SEB Asset Management AB Purchases New Shares in Lennar Corporation $LEN

SEB Asset Management AB acquired a new stake in shares of Lennar Corporation (NYSE:LENFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 42,327 shares of the construction company’s stock, valued at approximately $3,676,000.

A number of other large investors have also recently made changes to their positions in LEN. Magnolia Group LLC purchased a new position in Lennar in the fourth quarter worth about $6,756,000. KBC Group NV raised its position in Lennar by 34.3% during the fourth quarter. KBC Group NV now owns 62,689 shares of the construction company’s stock valued at $6,445,000 after purchasing an additional 15,998 shares during the period. MUFG Securities EMEA plc lifted its stake in shares of Lennar by 2,522.7% in the 4th quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company’s stock valued at $11,744,000 after purchasing an additional 109,889 shares during the last quarter. Element Capital Management LLC purchased a new position in shares of Lennar in the 4th quarter worth approximately $6,437,000. Finally, Third View Private Wealth LLC purchased a new position in shares of Lennar in the 4th quarter worth approximately $1,269,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Up 0.2%

Shares of NYSE:LEN opened at $82.00 on Thursday. The business’s 50 day moving average is $88.01 and its 200 day moving average is $97.38. The stock has a market cap of $19.75 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.72 and a beta of 1.38. Lennar Corporation has a 52-week low of $81.18 and a 52-week high of $144.24. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LENGet Free Report) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same period in the previous year, the company posted $1.81 EPS. Lennar’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts predict that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Lennar’s dividend payout ratio is 31.30%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group decreased their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Seaport Research Partners reissued a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Argus set a $108.00 target price on shares of Lennar in a report on Thursday, July 9th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company reduced their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $92.80.

Get Our Latest Research Report on Lennar

Lennar Company Profile

(Free Report)

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

Further Reading

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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